Ulster Bank Special Interest Deposit Acc


Why not request an interest statement and let us know what it says?
 
A separate sheet came with your statement, this indicates the rates applying to the SID depending on your balance, this separate sheet also indicates the sort code and account number.

There is very little difference between annual deposit account rates with UB ( 3.5% fixed ) and the 4% in the SID, I treat the SID as a fixed term account anyway and will only move it if the rates drops.
 
Did anyone find out what happens if you lodge more than 1K in a single month?

I rang Ulster Bank today to enquire abount opening one of these accounts. They said there was a maximum monthly lodgement limit of 1K per month on the account. If any transaction was to break this rule it would be rejected. So if you lodged 500 into the account on-line and then later in the month your standing order tried to lodge 800, the standing order would be rejected.
 
Does anyone know when in October the interest will be paid on this account?
 
Was wondering the same thing myself although at this stage I'd say Oct 31st is favourite!
 
Based on last years statement it should be the last working day of October, i.e., 31st this year
 
interest was added on the 29/10 cant really make out if the overpayments were awarded the interest, did anyone do the calculation
 
yeah got my interest but wondering how its was calculated as i had 11k euro saved up and got €250 euro in interest!! would this be correct??? had been saving since january this year!!
 
Palerider,

Do you mean they paid you the full 4% even on the amounts you deposited above the 1K monthly limit?

dmcl1971
 
yeah got my interest but wondering how its was calculated as i had 11k euro saved up and got €250 euro in interest!! would this be correct??? had been saving since january this year!!
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A quick scan suggests you got all interest due. I base this on 10 months having on average 11/2 lodged. Multiply by 4 and deduct 1/6 (two months). So if you add 11k in for 1 year you would have got 5.5 x 4 = 220. Deduct a sixth = 183.33. Given your figure is quite a bit higher it suggests you front loaded the account with a few grand and got paid accordingly. Apologies to all the mathematical purests out there.
 
Thanks Elcato for the reply!!

thats nice to know, a bank gives you a few bob more
 
just wondering guys now that i got my interest, would be be a good idea to open up a one year fixed with ulster or some of the others?? 4% for a year and least il know what il be getting at the end!!

Tks
 
Palerider,

Do you mean they paid you the full 4% even on the amounts you deposited above the 1K monthly limit?

dmcl1971

Yes as predicted in previous posts !
 
Palerider said:
Yes as predicted in previous posts !
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Thanks, great to hear!

I've just opened one of these accounts & now intend to deposit €15k to take full advantage of the 4% rate.

Did anyone successfully open more than one of these accounts?
 
I've just opened one of these accounts & now intend to deposit €15k to take full advantage of the 4% rate.
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when people opened these originally they did not seem to have a limit for monthly deposits. I believe the T&C changed along the way so they may not pay you the interest in this case. Also the limit could be up to 15k. Bear in mind that you won't know until October next year whether they will pay you the interest or not as well so I'd be careful here. Try the best buys and you get slightly above 4% for one year fixed.
 
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